GT Advanced Technologies
This company, through its subsidiaries, is a global provider of polysilicon production technology and multicrystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry. It also provides sapphire growth systems and material for the light emitting diode (LED) and other specialty markets. GTAT is trading up 6.8%, at $4.40, in recent trading.
Today's Range: $4.08-$4.49
52-week Range: $3.92-$17.50
Three-Month Average Volume: 2,881,390
From a technical perspective, GTAT is bouncing hard here off some previous support levels at $3.92 to $4 with below-average volume. This move is also coming off oversold conditions, since GTAT has a relative strength index (RSI) reading of 32.60.
Traders should now look for long-biased trades if GTAT can manage to trigger a major near-term breakout trade. That trade will hit once GTAT takes out some near-term overhead resistance at $4.45 to $4.49 (today's high) with high volume.
Look for a sustained move or close above those levels with volume that's near or above 2,881,390 shares. If we get that action soon, look for GTAT to tag $5.50, or possibly its 50-day moving average of $6.32.